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$16M Fee Bid In LendingClub Deal 'Unbelievable,' Judge Says

Law360, San Francisco (July 19, 2018, 6:16 PM EDT) -- U.S. District Judge William Alsup on Thursday approved a $125 million deal ending securities class actions against LendingClub Corp., but said he couldn't bless class counsel's "unbelievable" bid for $16 million in attorneys' fees because the request was so vague he "may have to bring in one of those people with the green eyeshade."

At the hearing in San Francisco, Judge Alsup said that even after attorneys for Robbins Geller Rudman & Dowd LLP provided itemized expense reports for the $456,000 in litigation costs at his...
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Case Information

Case Title

In re LENDINGCLUB SECURITIES LITIGATION


Case Number

3:16-cv-02627

Court

California Northern

Nature of Suit

Securities/Commodities

Judge

William Alsup

Date Filed

May 16, 2016

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